NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability

The NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability is launched by the government of India, Ministry of Social Justice and Empowerment and implemented by National Handicapped Finance and Development Corporation (NHFDC). The scheme aims at providing financial support to those eligible persons with a disability who, have the minimum educational qualification, as required by the institution/organization running the vocational education or training course eligible under the scheme. Under this scheme courses of 2 months, up to 3 years are supported. Disable candidates who are permanent residents of India and qualify the eligibility norms can apply for loan under this scheme and can make their make their future stable

Benefits of NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability:

NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability provides benefits in the form of loan to pursue vocational education and training

Maximum amount of loan is Rs. 2 lakh will be provided

Repayment up to 7 years after commencement of the repayment

The borrower can repay the loan any time after commencement of repayment without having to pay any prepayment charges

No collateral or third party guarantee will be taken. However, the parent will execute loan document along with the student borrower as joint borrower

No processing fees

Upon completion of the course, repayment will start after a moratorium period as indicated below

For courses of duration up to 1 year 6 months from the completion of the course

For courses of duration above 1 yearn – 12 months from the completion of the course

Required eligibility and conditions for applying NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability:

As per the criteria of education Loan scheme of NHFDC

Any Indian citizen with 40% or more disability is eligible to apply under this scheme

Minimum age should be 18 years

Document required for applying NHFDC Loan Scheme for Vocational Education and Training for Persons with Disability:

Application in the prescribed format to be submitted to the State Channelizing Agency for sanction of loan as per the lending policy of National Handicapped Finance and Development Corporation

Contact Details:

The scheme will be implemented through State Channelizing Agencies of NHFDC and the Banks, RRBs and other institution with whom NHFDC has signed an agreement so candidate can contact to such banks also

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